12th Aug 2021 12:20
Serinus Energy PLC - oil company with operations in Romania and Tunisia - Reports revenue of USD15.9 million in the six months ended June 30, up 20% from USD13.3 million the year before as pretax loss narrows to USD443,000 from USD12.9 million. Says commodity prices remain strong with European gas prices at record highs, driven by post-pandemic economic recovery. Averages production of 2,012 barrels of oil equivalent per day. Notes operating netback of USD26.7 per barrel of oil equivalent for the six months ended June 30, compared to USD18.44 per barrel the previous year.
Completes drilling at Sancrai-1 exploration well in Romania ahead of schedule and under-budget. However, it says Sancrai-1 well is to be suspended pending further technical studies, to better understand the structure and options available.
Current stock price: 2.10 pence, down 21% on Thursday
Year-to-date change: down 35%
By Scarlett Butler; [email protected]
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